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2014 (8) TMI 1168 - AT - Income TaxEligibility to section 80IB / 80IA - assessee be denied deduction u/s 80IB(3) in subsequent years as the assessee from investment point of view, matures out of SSI definition, when the assessee is a SSI in the initial years of deduction - HELD THAT:- There is no dispute on the fact that the assessee is a SSI in the initial years. It is prospered and is no longer a SSI. Further, the assessee was given benefit of deduction u/s 80IB(3) of the Act in earlier years. Under these facts, we find the above judgment in the case of M/s. Ace Multi Axes Systems Ltd [2014 (8) TMI 596 - KARNATAKA HIGH COURT], has applicability to the present issue. CIT (A) has rightly adjudicated the issue under consideration while granting the relief to the assessee. Accordingly, we find no infirmity in the order of the CIT (A) and it does not call for any interference. Accordingly, the grounds raised by the Revenue are dismissed.
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